Bitcoin Jumps High: The brakes have been put on the continuous decline in bitcoin. Bitcoin is trading at a one-month high of $22,000 on improving international market sentiment and investor buying. This is the first time since June 8, 2022, that bitcoin is trading at this level. Currently, bitcoin is trading at $ 22,418 with a jump of 8 percent. While Ethereum is trading at a five-week high of $1,487 with a jump of 11 percent.
Other cryptocurrencies are also seeing a rise in Monday's trading session. Avalanche and Polygon are trading with double-digit momentum. After a big drop in June, the month of July has brought relief for crypto investors. Due to the rise in all cryptocurrencies, the crypto market volume is trading above $75 billion with an increase of about 12 percent in the last 24 hours. Stock markets around the world are booming. Asian, to European stock markets, are trading in the green mark, due to which the cryptocurrency market is also seeing a boom.
Ether has gained 45 percent in July, so Polygon has doubled from its level. However, whether it is the stock market around the world or the crypto market, all eyes are on the Federal Reserve after the US inflation data reached the highest level in 41 years. It is believed that the Federal Reserve can make interest rates expensive by one percent. Due to this fear, investors are selling the stock market and cryptocurrencies.
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